New AICPA Section Offers Resources for CPAs and Others Who Serve the
Nation's Not-for-Profit Organizations

May 11, 2015 03:15 PM Eastern Time

NEW YORK--(EON: Enhanced Online News)--The American
Institute of CPAs (AICPA) today launched a new membership section
for practitioners and others who serve or work for the nation’s growing
not-for-profit sector. The AICPA’s Not-for-Profit
Section (NFP Section) will provide support and resources in the
areas of audit, financial accounting and tax for members and other
finance professionals.

“Additionally, the Section is a valuable educational hub for those who
are new to not-for-profits and want to learn more about the business of
running one.”

Responding to member calls for added not-for-profit resources, the NFP
Section will strengthen the AICPA’s commitment to serving the public
interest. In addition to providing tools and training throughout the NFP
sector, those who have management or governance responsibilities with
respect to a not-for-profit entity, including those who serve as board
members or as volunteers, are eligible to join the AICPA as a non-CPA
Associate. AICPA members, including Associate and non-CPA Associates,
are eligible to join the NFP Section.

“The Not-for-Profit Section provides high-quality, timely information,
tools and resources that are designed to improve the governance,
financial reporting and tax reporting of not-for-profits,” said Clar
Rosso, AICPA vice president for member learning and competency.
“Additionally, the Section is a valuable educational hub for those who
are new to not-for-profits and want to learn more about the business of
running one.”

A recent ORC International CARAVAN® survey commissioned by the AICPA
underscored the importance of staff and consultant competencies to
support non-profit organizations. It found that more than half of those
polled (57 percent) would be more likely to contribute to a
not-for-profit organization whose employees receive regular updates
about financial management issues and trends. The survey results provide
incentive for accountants and others who work in or with the nation’s
not-for-profit sector to both join the Section and enroll in the Not-for-Profit
Certificate Program that was unveiled by the Institute last month.

NFP Section members will benefit from comprehensive financial management
and governance resources as well as an extensive learning library. The
practical tools to help simplify and streamline tasks include work paper
templates, checklists, illustrative examples, and sample letters,
reports and policies in areas such as tax compliance, governance,
financial reporting, auditing and accounting. Section members will also
stay up to date through webcasts covering hot topics and timely e-alerts
that provide breaking news and insights on the issues not-for-profit
organizations can expect to encounter. Due to the unique issues faced by
healthcare entities, they will not be included in the scope of the NFP
Section.

About the AICPA

The American Institute of CPAs (AICPA) is the world’s largest member
association representing the accounting profession, with more than
400,000 members in 145 countries, and a history of serving the public
interest since 1887. AICPA members represent many areas of practice,
including business and industry, public practice, government, education
and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing
standards for private companies, nonprofit organizations, federal, state
and local governments. It develops and grades the Uniform CPA
Examination, and offers specialty credentials for CPAs who concentrate
on personal financial planning; forensic accounting; business valuation;
and information management and technology assurance. Through a joint
venture with the Chartered Institute of Management Accountants (CIMA),
it has established the Chartered Global Management Accountant (CGMA)
designation which sets a new standard for global recognition of
management accounting.